Exits from Net-Zero Insurance Alliance proceed

In a span of three weeks, three main names have left the United Nations-convened Net-Zero Insurance Alliance (NZIA) – this time round we see Hannover Re, the third largest reinsurer on the planet, head for the door.

Without detailing its causes for the exit, Hannover Re cited “careful consideration” behind the choice. Just like its friends Munich Re and Zurich, although, Hannover Re is equally sticking to its personal local weather and sustainability targets.

“Hannover Re remains committed to its sustainability strategy, the associated goals and its support for the Paris Agreement, and aims to achieve full climate neutrality by 2050 at the latest,” mentioned the Talanx Group model.

According to Hannover Re – which Insurance Business understands is a Climate Alliance Hannover 2035 member – it has operated with a net-zero carbon footprint at its Hannover location since 2016, with that very same goal set for the entire firm’s enterprise operations worldwide to succeed in by the 12 months 2030.

A signatory to the Principles for Sustainable Insurance, Hannover Re can be a part of numerous regional, nationwide, and international initiatives, associations, and advocacy teams. A listing of its affiliations, which not contains the NZIA, may be discovered right here.

The NZIA has not publicly reacted to any of the departures.

What are your ideas on this story? Share your ideas within the feedback under.